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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2209 Pacific Ave, Unit 2215 Tacoma, WA 98402-3005

    • Warehouses
    • 11,860 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    Feb 10, 2022
    Value Estimations
    $1,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1253005
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Concerned Island Citizens / Association Or Organization
    • Chuckals Office Products / Office Supply Store / Office Equipment Supplier

    Property Details for 2209 Pacific Ave

    Year built
    1945
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.41 lot acres
    Property size
    11,860 SF
    Zone code
    WR
    Property type
    Warehouses
    APN
    2022030020
    APU
    2022030020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,530,000
      Market price range: $394k - $5.18M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.435
    Latitude
    47.2415
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,893
    $1,009,200
    $780,800
    $1,790,000
    -
    $1,009,200
    $780,800
    $1,790,000

    Comparable in this City

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      $705,000
      6,000 SF

      2334 Fawcett Ave

      WAREHOUSE, STORAGE • 6,000 SF
      2334 Fawcett Ave, Tacoma, WA 98402-1402
      View Details
    • Value Estimation
      $2,065,000
      14,561 SF

      2512 Holgate St

      WAREHOUSE, STORAGE • 14,561 SF
      2512 Holgate St, Tacoma, WA 98402-1203
      View Details
    • Value Estimation
      $600,000
      2,500 SF

      632 Broadway

      WAREHOUSE, STORAGE • 2,500 SF
      632 Broadway, Tacoma, WA 98402-3804
      View Details
    • Value Estimation by Request
      975 SF

      615 St Helens Ave, Unit 617

      WAREHOUSE, STORAGE • 975 SF
      615 St Helens Ave, Tacoma, WA 98402-2304
      View Details
    • Value Estimation
      $610,000
      6,400 SF

      2333 Tacoma S Ave

      WAREHOUSE, STORAGE • 6,400 SF
      2333 Tacoma S Ave, Tacoma, WA 98402-1409
      View Details
    • Value Estimation
      $1,700,000
      18,000 SF

      2138 Pacific Ave

      WAREHOUSE, STORAGE • 18,000 SF
      2138 Pacific Ave, Tacoma, WA 98402-3004
      View Details

    Similar Nearby for Sale

    • $3,300,000
      23,860 SF

      Mixed-Use Building with Parking

      Two-story office, retail, and warehouse building with parking lot.
      2209-2215 Pacific Ave, Tacoma, WA 98402
      View Details
    • $1,450,000
      6,800 SF

      Move-In Ready Warehouse Near Downtown

      Warehouse with high ceilings and convenient access to I-705.
      936 Pacific Ave, Tacoma, WA 98402
      View Details
    • $2,200,000
      8,820 SF

      Downtown Tacoma Owner-User Opportunity

      Refreshed office/warehouse near I-5, I-705, SR 509 and Port of Tacoma.
      2306 A St, Tacoma, WA 98402
      View Details
    • $1,950,000
      25,500 SF

      Tacoma Multi-Use Building For Sale

      Downtown Tacoma redevelopment opportunity. 25,500 SF, vacant.
      919 Market St, Tacoma, WA 98402
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    • $4,499,000
      36,000 SF

      Tacoma Industrial Warehouse - $4.49M

      Prime Tacoma warehouse, 36,000 SF, three stories.
      2128 Pacific Ave, Tacoma, WA 98402
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    • $4,499,000
      36,000 SF

      Connected Buildings with Flexible Space

      Two connected buildings offering flexible warehouse and industrial space.
      2128 Pacific Ave, Tacoma, WA 98402
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    Similar Nearby for Lease

    • $0.65 SF/Yr
      6,400 SF

      Tacoma Warehouse with Fenced Yard

      6,400 SF warehouse with fenced yard near Brewery District.
      2325-2333 Tacoma Ave S, Tacoma, WA 98402
      View Details
    • $4,499,000
      36,000 SF

      Connected Buildings with Flexible Space

      Two connected buildings with flexible space available for rent.
      2128-2134 Pacific Ave, Tacoma, WA 98402
      View Details
    • $12 SF/Yr
      36,000 SF

      Tacoma Warehouse: 36,000 SF

      Downtown Tacoma industrial space, perfect for distribution.
      2128 Pacific Ave, Tacoma, WA 98402
      View Details
    • $1.00 SF/Yr
      4,000 SF

      Spacious Warehouse with Office Space

      Warehouse with offices, restroom with shower, easy highway access.
      2302 A St, Tacoma, WA 98402
      View Details
    • $0.75 SF/Yr
      27,000 SF

      Tacoma Warehouse with Fenced Yard

      27,000 SF warehouse with fenced yard available for lease.
      2202-2212 A St, Tacoma, WA 98402
      View Details
    • $3,000,000
      5,000 SF

      Office and Retail Building

      Four-story office/retail building and parking garage in Tacoma, WA.
      722-738 Broadway, Tacoma, WA 98402
      View Details
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    Tacoma, WA 98402-3005
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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